Dallas oilman Trevor Rees-Jones has sold his almost 2-acre University Park estate.

The 12,458-square-foot mansion on Turtle Creek was built in 1996. The English Tudor Revival house has five bedrooms, 6 1/2 baths and eight fireplaces. It was built of limestone imported from England and assembled by English craftsmen.

The Volk Estates property was listed for sale for $15.9 million. Kathy Myers and Lacy Schultz of Dave Perry-Miller Real Estate sold the house for an undisclosed price.

Rees-Jones, founder and chairman of Chief Oil and Gas, is one of Dallas' wealthiest residents. In October, Forbes estimated his net worth at $4.8 billion in its annual ranking of richest Americans.

"Homes in this price range perform differently," Schultz said in a statement. "Currently, there are 12 homes on the market in the $10 million to $25 million range in the Park Cities and Preston Hollow vicinity that have been on the market for a while.

"Two of these 12 homes have just gone under contract," she said. "I think this is indicative of an active spring market for estate properties."

She said Perry-Miller Real Estate has the two pending contracts on the top-market homes.